How to Bet on Horses

Horse racing is one of the best-known sports in the UK, with millions of racegoers and TV viewers tuning in to the nation’s biggest racetrack events every year. In this beginner’s guide, we’ll walk you through everything you need to know about horse racing betting and get you ready to place your very first punt.

Grasping the terminology heard at racetracks is often daunting as a new bettor. Words to describe different types of bets — like ‘superfecta’, ‘trifecta’, or ‘exacta’ — can make you feel in over your head while trying to stick money on a horse as a newcomer to the sport. With that in mind, we’ll cover all bases in layman’s terms. 

For a quick look at some of the bookmakers you can expect to visit as a horse racing punter, check out our list of the best UK racing betting sites here.

First - Choosing a Betting Site

Online sports betting has never been more popular. There’s a site for every type of punter — meaning there’s plenty of variety — but this can make it difficult to find the best platform. Some bookmakers only prioritize horse racing during major events, like Cheltenham, whereas others thrive during lesser-known races. As such, the best online betting site for you will vary depending on your interest in the sport. 

Below, we’ve outlined a list of things to look out for when deciding where to place your first flutter. 

• Ensure the site is licensed by the UKGC
• Examine the range of racing-related promotions and offers
• Competitive odds — use our odds comparison engine to see which site ranks best
• Downloadable mobile app for iOS and Android
• Excellent customer support

Navigating your Online Bet Slip

Found in the corner of your screen, your bet slip contains each selection you’ve chosen. For example, let’s say you choose a particular horse to win a race at Ascot — the famous annual meeting near Reading. The name of your selected racehorse will show up within your bet slip, along with the betting odds, the event, and your potential payouts — also known as payoffs. Keep in mind that the name of a jockey will rarely be displayed on your slip.

Bet slips are a constant when it comes to online betting, no matter your experience level. Veteran punters use bet slips to create accumulators and put money on mutuel wagers, while rookies become accustomed to bet slips by having a flutter on singles and doubles. 

Here’s how to add a wager to your bet slip.

1. Find the horse racing page via the sidebar menu or the relevant icon image.
2. Clicking on your chosen betting odds will add your selection to the slip. 
3. A stake box will be present — this is where you enter the amount of money to bet.
4. You may be asked if you want to use any free bets attached to your account.
5. Once you’re happy with your bet, hit ‘bet now’ or ‘submit’.

Horse Racing Betting Odds Explained

If you feel overwhelmed and confused by a horse’s odds, take some solace in the fact that you’re not alone. Even the most experienced punters had to start somewhere! 

You can get off on the right foot when it comes to how to bet on horses by learning some basic bet types. We won’t throw complicated bets at you here — you only need to know a handful of terms. Use the following list to aid your early betting journey, whether you’re trying your luck at a racecourse or online.

• Each-Way bet: This is a bet on two outcomes. First, you’re betting that the horse finishes before other runners. Second, you’re betting on the horse’s finishing position across a range — e.g. 1st to 5th.
• Win: The most basic type of wager, a win bet is a punt on the horse to come first at the end of the event. 
• Single: A wager on one horse to win a race. 
• Double: A bet on two different selections from the same market. Doubles require both outcomes to go your way for the bet to win.
• Treble: Like doubles, trebles require that all of your chosen bets are accurate to see a return. Here, you’re betting on three unique selections from the same market.
• Trixie: Made up of three doubles and one treble, totalling four bets. This one’s a little more complicated, so we’ve provided an example bet below.
  • Your selection consists of: Horse A, Horse B, and Horse C to win their respective races.
  • Double 1 requires Horse A and Horse B to win.
  • ouble 2 requires Horse A and Horse C to win.
  • Double 3 requires Horse B and Horse C to win.
  • The treble requires that all three horses finish in first place.
  • You’ll see some returns if any of your doubles are correct, and full returns if each horse wins. 
• Accumulator: A bet on four or more different horses from the same market. If each of your picks wins, the bet’s a winner.
• Exacta: You select the exact order in which the top two horses will finish. Boxed exactas are also available, where the exact finishing order of your chosen pair of horses is not relevant — they just need to finish first and second. 
• Trifecta: An expansion of the exacta, a trifecta is a prediction of the top three at the end of a race.
• Superfecta: Popular in America, superfecta bets contain the finishing order of the top four finishers. 
• Daily Double: Bet on a horse to win two consecutive races. 
• Placepot: This is where you bet on the place of one horse across the opening six meetings within an event. 

How to Read Odds

Odds represent the likelihood of a bet coming off. The greater the odds, the more unlikely it is that your selection wins. If the price is on the lower end of the spectrum, it’s more likely that your bet will come in.

The most common type of odds listing is called fixed odds. Bettors are presented with predetermined prices for a variety of selections, and it’s the job of the punter to pick which prices to take. Although odds are generally shown in fractional format, most bookmakers support pricing in decimal form, too. 

For example, imagine visiting an online betting site displaying markets for the Kentucky Derby. Horse A is priced at 9/1, which means that a bet on this horse should win once in every nine outings. This gives the runner a predicted 10% chance to win, allowing for smaller bets to accrue impressive returns. On the other hand, Horse B is listed at 1/1. With bookies predicting a 50% chance of winning, Horse B is the clear favourite. As such, you’ll need to put more money down to get a better return. Any selection with odds of under 1/1 is considered ‘odds on’ — meaning that it’s more likely that this horse will win than otherwise. 

To calculate the probability of your horse winning using fractional odds, use the formula shown below.

• Divide the numerator by the denominator +1, then multiply the result by 100.
• E.G. For odds of 9/1, the formula works like this — 1/(9+1) x 100 = 10%.

Get Started With Horse Racing Betting

Whether you’re an aspiring handicapper or just settling in to watch your first national hunt, our beginner’s guide strives to lend all up-and-coming punters a helping hand. By reading the walkthrough in full, you should now know how to bet on horses UK, how bet slips work, basic betting terminology, and how odds work. That’s all you need to get started.

Just click the link associated with any bookies listed on this page to claim your welcome bonus and place your first bets. Before we leave you, one last thing — remember to meet minimum bet requirements if you decide to partake in a horse racing promotion.